Cyrus Mistry denies filing caveats in Company Law Tribunal, dubs concerns as premature
The former chairman of Tata Sons Cyrus Mistry has not taken a legal recourse yet against Tata Group for abruptly ousting him as the Chairman of Tata Sons, and has denied that he has files any caveats in the Companies Law Tribunal against Ratan Tata, Tata Group and Sir Dorabji Tata Trusts.
Zee Media Bureau
Mumbai: The former chairman of Tata Sons Cyrus Mistry has not taken a legal recourse yet against Tata Group for abruptly ousting him as the Chairman of Tata Sons, and has denied that he has files any caveats in the Companies Law Tribunal against Ratan Tata, Tata Group and Sir Dorabji Tata Trusts.
"A caveat is a notice filed by a party fearing legal action seeking notice before action. Tatas have filed caveats seeking notice from Cyrus Mistry fearing legal action. Cyrus has not filed any caveats. He has already made a statement that such concerns are misplaced at this stage," a statement issued by Cyrus Mistry`s office said on Tuesday.
Earlier in the day the Shapoorji group had issued the first press statement on the reports that it would challenge the ouster of Mistry in the Bombay High Court. "Events of the past 24 hours obviously involve an element of sensitivity if not surprise. They need time for being assessed. As and when a public statement becomes necessary, it would be made."
"Neither the SP Group nor Mr Cyrus Mistry has made any statement yet. While the circumstances are being studied, there is no basis to media speculation about litigation at this stage.", said the statement.
Some reports attributed to a senior lawyer close to Mistry appeared on Monday that his elimination was against the norms of the Articles of Association of Tata Sons, and that Mistry is likely to challenge his ouster in Bombay High Court.
Meanwhile, Tatas bracing for legal battle, if any, have already filed caveat in the Supreme Court, Bombay High Court and National Companies Law Tribunal to prevent Cyrus Mistry from getting ex-parte order against his sacking. The Tatas would not like to have any court passing any ex-parte orders staying Cyrus Mistry's sacking without hearing their side of the story. The petitions were filed against Mistry soon after his removal Monday evening,
Some news reports coming earlier said that the former Chairman of Tata Sons Cyrus Mistry filed four caveats at National Company Law Tribunal against Ratan Tata, Tata Group and Sir Dorabji Tata Trusts.
The reports also added that high profile legal eagles Karanjawala, P Chidambaram, Kapil Sibal have been approached by Tatas, while Iqbal Chagla, Janak Dwarakadas and Somashekhar will fight for Mistry; Harish Salve, Manu Shinghvi have been paid to sit out.